Goldman Makes Profit
In Parmalat Bond Sale
Amid Chaos of Scandal

As Parmalat SPA was starting to implode in mid-December, at least one financial institution was able to profit amid the chaos: Goldman Sachs Group Inc.

On the evening of Dec. 17, Goldman arranged a swift sale of Parmalat bonds held by U.S. insurer Aflac Inc. to a range of hedge funds and distressed-debt investors -- earning a profit of nearly $2 million, according to people familiar with the deal.